2. Marketing management
Marketing is of interest to everyone
Goods, services, properties, persons,
places, events, information, ideas or
organizations
3. Kotler on marketing
“The future is not ahead of us. It has
already happened. Unfortunately, it is
unequally distributed among companies,
industries and nations.”
4. Questions to be addressed
What is the new economy like?
What r the tasks of marketing?
What r the major concepts & tools of
marketing?
What strategies do companies exhibit in
the marketplace?
How r companies responding to new
challenges?
5. New economy is fashionable
Things r moving in a nanosecond pace
Hyper competition
Disruptive technologies
Adapt to the empowered consumer
Old economy was simpler
Manufacturing, goal was efficiency
Hierarchical management
Digital revolution
Information management
Differentiated, customized, personalised
Network
6. The new economy
A substantial increase in buying power
A greater variety of availability of goods &
services
A great amount of information on anything
A greater ease in interacting and placing
and receiving orders
An ability to compare notes on products
and services
7. 10 rules of radical marketing
Sam Hill & Glenn Rifkin
The CEO must own the marketing function
Make sure the marketing function starts small & flat &
stays so
Get face to face with the people who matter most
Use market research cautiously
Hire only passionate missionaries
Love & respect your customers
Create a community of consumers
Rethink the marketing mix
Celebrate common sense
Be true to the brand
9. The scope of marketing
Typically seen as the task of creating,
promoting, and delivering goods &
services to consumers & businesses
Marketers are skilled in stimulating
demand for a company’s products, limited
Demand management
Seek to influence the level, timing, and
composition of demand to meet the
organization’s objectives
10. Definitions of marketing
Social definition - “ deliver a high standard of
living”
Managerial definition - “ the art of selling
products”
Kotler – “ aim of marketing is to make selling
superfluous.
Know & understand the customer well that the
product fits
Should result in a customer who is ready to buy
Make the product available
Sony, toyota
11. Core marketing concepts
Target markets & segmentation
Marketplace(physical)
Marketspace(digital)
Matamarket( cluster of complementary products & services that r
closely related in the minds of consumers but r spread across a
diverse set of industries)
Marketers & prospects
Needs, wants & demands
Product, offering, brand
Value
Raise benefits
Reduce costs
Relationships & networks
Channels
Supply chain
Competition
Environment
12. “ Whatever fails to change, fails to
survive”
Digital revolution
Globalization
Technological superiority is disappearing
Marketing starts and ends with customers
13. definitions
“ Satisfying customer needs in a socially
responsible way at a profit.”
Kotler –
“ Marketing is a societal process by which
individuals and groups obtain what they
need and want through creating , offering
and freely exchanging products and
services of value with others”
14. Drucker
“ it is the whole business seen from the
point of view of its final result, that is from
the customer’s point of view”
15. features
It is a societal process
Deals with customer needs, wants
Focus on delivering value
Facilitates satisfying exchange relationships
Dynamic environment
Used by both profit and non profit organizations
Extremely important
16. Nike CEO - Geraldine and williams
1) Are we easy for customers to do
business with?
2) Do we keep promise?
3) Meet standards
4) Responsive to customer needs
